Peru | There was no economic recovery at the end of last year and the beginning of 2015 looks pretty much the same

Output grew 0,5% in December, as we were expecting. This outturn, similar to that recorded in the previous month (0,3%), keeps reflecting the marked weakness in economic activity, much of which is related to the contraction of primary sectors, which in December played down about 2 percentage points to the rate of GDP growth. The first available indicators for January and relatively conservative assumptions for the primary component of output suggest that economic activity would have accelerated in January at least one percentage point with respect to the previous two months’ prints, a rate that it is true shows an improvement, it also reflects that output weakness persists in early 2015.

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